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Originally Posted by Relentless
Nice write up.
Two quick additions...
1) When choosing health insurance pay particularly close attention to the cap on coverage. Many plans cap coverage at a million dollars, some at even less. A million dollars isn't much if you or a family member gets very sick or has a catastrophic accident. You'll pay more for insurance with no cap but it is well worth it because that's what prevents bills from bankrupting you.
2) Be very careful which company you buy life insurance from. If all goes well they won't be paying anyone for 20 years or more and YOU won't be around to fight with them when it's time to collect. Pay more if necessary for the same coverage from a solid provider. Choose one that has been around a long time, is highly rated and is well capitalized. Not all life insurance companies are the same.
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1. I only work with all the big national health care providers: Blue Cross, Coventry, Humana, Aetna, etc... In most plans the life time max has been raised in the last couple years to 5 million. You are right it is very important to look for and you want that number to be closer to 5 million than say 1 million.
2. Good points too. You don't want to work with a fly by night type operation or something that is very new. The life insurance companies I work with have been in business for over 100 years.